🐆🐆🐆

your health, your mission, your people

[The Factor Report @PeterLBrandt]

PLEASE NOTE
A major breakout is taking place today in the U.S. 30-year and other government instruments along the yield curve
This generates an upside target toward or above the 7% yield

[The Kobeissi Letter @KobeissiLetter]

Absolutely incredible.

In an unprecedented move, South Korea's stock market just collapsed -44% in 40 days, erasing -$2 trillion in market cap.

Now, South Korea's finance ministry has announced plans to "stabilize" the market.

What is happening? Let us explain.

(a thread)

[Hedgie @HedgieMarkets]

🦔AI companies are bulk-buying rare books, scanning them through high-speed machines that cut the spines off, and shredding the originals. A service called ISBNdb facilitates orders of up to a million books and keeps buyers anonymous. Pre-2022 books are premium because they're free of AI-generated text. A federal judge ruled the practice is fair use because eliminating the original means only one copy exists at a time. Anthropic hired the former head of Google Books partnerships to obtain "all the books in the world."

My Take
This got to me. A bookseller told 404 Media that rare books with almost no surviving copies are being fed into this pipeline. Books that survived wars, fires, and centuries of handling are being shredded so an AI can learn to write a better marketing email.
ISBNdb's website literally says "'AI company destroys two million books' is not a headline that generates sympathy," and they still built an entire business around making it happen quietly. They offer NDAs as a feature. They coach clients to call it "digital preservation."

I've covered AI companies scraping the internet, torrenting libraries, and stealing music. This is worse because it's irreversible. You can re-upload a website. You can reprint a bestseller. You can't replace the last three copies of an 18th-century botanical text once someone shreds them for training data. And the judge said it's legal. So it's going to accelerate.
"We shred rare books and offer NDAs so nobody finds out" is a legitimate business model in 2026. What a timeline.

Hedgie🤗

[Crypto Jargon @Crypto_Jargon]

THIS IS INSANE. 🤯

India gave GitHub THREE HOURS to delete BitChat.

By the time the deadline hit, the app was already back. On a network with no company to send the order to.

Here's what happened:

• India orders GitHub to remove BitChat, citing "unlawful communication"
• GitHub has 3 hours to comply or face legal action
• Within hours, a developer mirrors the entire codebase on Radicle
• Radicle has no central server. No company. No CEO to subpoena. No app store to pressure.
• The instructions go out: clone it, seed it, keep it alive
• Every person who seeds it becomes another copy the government can't touch

The part nobody's saying out loud: this is the exact scenario BitChat was built for.

It runs on pure Bluetooth. No internet. No SIM. No phone number. It was already unkillable at the app layer, that's why protesters in Nepal, Iran, and Madagascar used it to route around government shutdowns.

Now the SOURCE CODE is unkillable too.

India didn't delete BitChat. It just handed the entire internet a live demo of why decentralized infrastructure exists.

You can order a company to take something down. You can't order a network that isn't owned by anyone.

Command to mirror it yourself is already public. People are seeding it right now.

[Shadow Nick @doublenickk]

A 23-YEAR-OLD STUDENT BUILT THIS WORLD WAR II FILM IN JUST ONE NIGHT AND WON THE $1,000,000 BEST AI FILM OF 2026 AWARD

This terrifyingly realistic trench battle was created during a single all-nighter.

Bypassing multimillion-dollar studio budgets and turning a 23-year-old student into an instant millionaire before sunrise.

> Claude write the tragic World War II story arc & shot list: 20 minutes

> Midjourney render 8K photorealistic trench combat assets: 1 hour

> Sora / Runway turn static battlefield stills into 60fps action: 3 hours

> ElevenLabs overlay cinematic artillery blasts and voice tracks: 30 minutes

Hollywood spends $150M and 2 years to shoot this level of cinematic chaos.

A student did it in under 8 hours for less than fifty bucks.

The entire 1-night $1M AI filmmaking framework is broken down in the article below👇

[Anthony Pompliano 🌪 @APompliano]

Wow.

Google is willing to risk the entire company to win the AI race

[Unitree @UnitreeRobotics]

Unitree Super Athlete AS2-W 😉
Fluid movement, compact yet exceptional. Supports a continuous 16kg payload, with 30+ km unloaded driving range

[Lorenzo Valente @LorenzoARK]

We are entering a new era for DeFi.

For the first time ever, @HyperliquidX generated more volume from RWAs than crypto in a single week. RWAs accounted for 54% of total trading volume.

An even more interesting trend: since June, single stocks have overtaken indices and commodities on HIP-3. Today, 61% of all RWA trading volume is in individual equities.

I’m no longer convinced RWA trading will naturally aggregate on the same venue as crypto. There will likely be category leaders within RWA, and owning BTC/ETH/SOL flow may become far less important than many people assume.

To put this into perspective:

Total DEX perpetual volume last week: $79B
Hyperliquid: $50B
Of that, $26B was HIP-3 RWA trading

In other words, Hyperliquid’s RWA market alone was larger than the combined crypto perpetual volume of every other DEX.

If you’re still only focused on crypto token trading, I think you’re focusing on the wrong market.

data from @Blockworks

[BSCN @BSCNews]

Tokenized cows just backed a farm loan on Brazil's stock exchange

Ten dairy cows in Paraná became the first tokenized livestock collateral on B3, Brazil's stock exchange, backing a loan worth about $19,400. Each cow carries a digital ID generated from AI sensor collars tracking its health in real time.

Banks usually cut up to 60% off livestock collateral because they can't verify an animal is even alive. Live monitoring removes that discount just as Brazil's farm bankruptcies have nearly quadrupled since 2023.

Cowmed already monitors 100,000 cows worth around $395M and projects a fifth could be pledged within two years, stretching RWA tokenization from T-bills into working farm animals.

[Joao Wedson @joao_wedson]

Bitcoin divided by Apple reveals a channel that has anticipated every major top since 2017

When we divide Bitcoin’s price by Apple’s stock price, a surprisingly consistent channel appears.

Since 2017, BTC/AAPL has respected the boundaries of this channel, accurately signaling the market’s major bottoms and tops.

What makes this even more interesting is that BTC/AAPL tends to reach the top of the channel before Bitcoin itself forms a top in USD. That makes it a potential leading indicator for market cycle peaks.

Historically, when Bitcoin becomes extremely overvalued relative to Apple, the market starts signaling that it may be time to reduce BTC exposure and rotate part of that capital into Apple shares.

Now, BTC/AAPL is once again approaching the lower region of the channel, an area that previously aligned with major accumulation opportunities.

Sometimes, the best way to understand the value of one asset is to compare it with another high quality asset.

[Andy @andyyy]

Tokenized stocks are simply are going to grow by a 10x in the coming years and there's simply no way around this.

Get behind it, and get long on it.

[Naval @naval]

Code is speech. The people pushing to ban open source and free speech are the bad guys.

[All day Astronomy @forallcurious]

This is the true shape of our planet, known as GEOID.

[River @River]

The average fiat currency dies in 27 years.

[Ole Lehmann @itsolelehmann]

i think AI is about to set off the biggest wave of historical discoveries ever

and it's already started...

> AI read the full text of a scroll buried by Mount Vesuvius 2,000 years ago, revealing a lost work of Stoic philosophy and a book by the philosopher Philodemus that nobody knew existed

> AI deciphered another scroll from the same library and found Plato's exact burial spot, unknown for 2,000 years. the text even describes his final night, with Plato critiquing a flute player's rhythm from his deathbed

> an AI handwriting model showed some Dead Sea Scrolls are 50 to 100 years older than scholars believed, putting the Book of Daniel within its author's lifetime. we could be looking at something close to an original

> AI recovered a 250-line hymn to Babylon, one of the most copied texts of the ancient world, by matching 30 fragments scattered across museums worldwide. it had been lost for 1,000 years

> AI found 303 new Nazca lines in Peru in six months, nearly doubling one of archaeology's most famous mysteries after a century of human searching had only turned up 430

> AI reconstructed the rules of a 2,000-year-old Roman board game from nothing but the carvings on a limestone slab, simulating thousands of games until it found the ruleset that fit

everyone is excited about what AI will solve in the future

i'm equally excited about what AI will solve from the past

[Barchart @Barchart]

U.S. M2 Money Supply hits new all-time high of $23.05 Trillion 🤑 🥳 📈

[Lorenzo Valente @LorenzoARK]

The Robinhood Chain is the cleanest case study of what happened to ETH's economics over time.

Since inception, @RobinhoodApp Chain has grossed ~$816K in revenue.

@Arbitrum, the middleware provider, takes 10%: ~$80K.

Arbitrum then pays Ethereum for settlement: $1,538.

The margin profile roughly:

Robinhood: 89%
Arbitrum: 10%
Ethereum: 0.15%

If your thesis is "ETH is money," Robinhood building here is ultra bullish. More activity, more ETH collateral, more lindyness.

If your thesis is "ETH is a revenue generating asset," this is the ultra-bear case.

And here's the uncomfortable truth: Robinhood was never going to build on Solana, Sui or any monolithic L1. They want the stack customization. They want to be landlords, not renters. Ethereum won this deal on merit.
It's just not pricing it right.

A healthy split to me looks more like:
Robinhood: 75%
Arbitrum: 10%
Ethereum: 15%

Ethereum sells the most valuable settlement layer in crypto at marginal cost. Things need to change. @ethlabs_org

[Jeremy Allaire - jerallaire.arc @jerallaire]

Today I'm sharing something I've been building toward for years: The Agentic Economy, a treatise on the convergence of intelligence and the economy.

As AI agents take on the work of the firm and value moves natively on open, programmable networks, the agentic economy and the onchain economy turn out to be the same economy, seen from two sides.

It's a personal work. Enter at whatever depth you like: a 60-second thesis, a short read, the full treatise, an audiobook, or visual maps.

https://t.co/fvaCMLWl3f

[Hayden Adams 🦄 @haydenzadams]

Uniswap is generating $5.2m in daily fees right now

Above any protocol other than USDC + USDT and far more than Hype, Pump, etc

https://t.co/3xIwOIq4GJ

[Bull Theory @BullTheoryio]

The Argentine peso has lost 99.66% of its value against the dollar since 2013.

$10,000 in 2013 pesos is worth $34 today.